Financial tech gaining steam in Iran
In addition to trying to lure foreign investors, Iranian authorities hope to boost the country’s struggling finance sector by jumpstarting the country’s fledgling fintech industry.
The Iranian capital played host to the four-day FINEX 2017 exhibition April 15-18. The annual event gathered more than 250 Iranian entities involved in banking and finance. While organizers dubbed it an international expo, only three foreign firms took part.
One of the driving factors behind the reluctance of foreign companies to engage with FINEX 2017 was the uncertainty over the future of Iran. Overshadowing the expo was the hostile rhetoric between Tehran and Washington and the upcoming May 19 presidential elections, which some argue could lead to the election of a conservative president.
